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Companion Animal Vaccine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 5305873
  • Report
  • March 2021
  • Region: Global
  • 110 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Bioveta AS
  • Boehringer Ingelheim GmbH
  • Brilliant Bio Pharma
  • Indian Immunologicals Ltd
  • Merck & Co. Inc.
  • Merial (Sanofi)
  • MORE
The Companion Animal Vaccine market was valued at approximately USD 2,768 million in 2020 and is expected to witness a revenue of USD 3,851 million in 2026, with a CAGR of 5.6% over the forecast period.

The impact of the COVID-19 pandemic on the studied market is expected to be significant. Certain specific and precautionary guidelines to the veterinary professionals for the treatment of companion animals during the COVID-19 pandemic were given by the Centers for Disease Control and Prevention in July 2020. In addition, many government authorities, such as the Centers for Disease Control and Prevention, recommended veterinary hospitals and clinics prioritize urgent and emergency visits and procedures. This initiative by the National bodies is expected to reduce the dependence and usage of diagnostic equipment in veterinary healthcare management. Also, according to the OIE: World Organization for Animal Health, most of the veterinary laboratories are actively involved in the testing of COVID-19 in humans, to overcome the shortage of healthcare facilities and COVID-19 testing laboratories across the globe. However, some hospitals and clinics are taking definite measures to avoid transmission of the virus during this pandemic situation. For instance, Prestige Animal Hospitals have been taking precautionary measures in the treatment of animals. They have also introduced a "Drop Off Exams" program that allows the owner to drop off the animal for the diagnosis or treatment procedure. The results and treatment plans are then discussed through the phone/mail. Hence, a slight short-term negative impact is witnessed on the companion animal vaccines market, primarily due to the reduced veterinary visits during the outbreak of COVID-19.

The growth of the global companion animal vaccines market is primarily driven by are the rising adoption of companion animals, such as dogs and cats, and the increasing cases of zoonotic diseases. At present, companion animals are among the major domesticated animals, which are dominated by dogs, cats, and horses. The market studied has been increasingly adopting drug crossovers from the human to animal healthcare sector, especially for dogs and cats. The recent years have observed a significant rise in the number of pet ownership.

According to the annual report of the European Pet Food Industry Association (FEDIAF), 2020, dogs and cats are the major pets adopted in Europe. Moreover, an estimate of 85 million European households owns at least one pet animal. The trend is further expected to increase during the forecast period.

In the past few years, considering the risk of transferring human diseases to animals and vice versa, the market studied observed increased demand for vaccines for companion animals. New product launches based on emerging technologies, collaboration, mergers and acquisitions, and regional expansion are the key strategic initiatives undertaken by these industry players. For instance, in October 2019, ZOETIS launched Versican Plus Bb Oral, the first oral vaccine for dogs in Europe for protection against Bordetella bronchiseptica, a primary component of the canine infectious respiratory disease complex (CIRDC) Thus, due to the development of innovative solutions, the market studied is expected to experience is expected to project at significant growth rates.

Key Market Trends

The Live Attenuated Vaccines are Expected to Hold a Major Share Over the Forecast Period

Live/attenuated vaccines contain a weakened version of the living microbe, making it ineffective to cause diseases. The live attenuated vaccines produce a similar, yet weakened reaction, as compared to that by natural infections. Effective cellular and antibody response is established by the immune system with single or multiple doses of vaccination, which aids in providing long-term immunity against infectious pathogens. The live/attenuated vaccines are kept refrigerated to sustain their potency. Besides, if the vaccine needs to be shipped overseas, and stored by healthcare workers, in developing countries that lack widespread refrigeration, a live vaccine may not be the best choice.

Mostly, vaccines licensed for oral or intranasal administration are attenuated. These vaccines must be stored and handled properly, with strict attention paid to temperature, even in the lyophilized (free-dried) state. After the reconstitution, the vaccine’s dose should be administered promptly (within one hour) or discarded.

Moreover, the development and launch of new vaccines and a robust pipeline are expected to boost the market growth. For instance, in December 2019, Merck Animal Health launched two new vaccines, namely, the Nobivac EDGE DAPPV + L4, a combo vaccine to include parainfluenza protection, and the Nobivac EDGE dappv combo vaccine to include parainfluenza protection in dogs. Hence, these vaccines are expected to account for the largest market share during the forecast period.

North America has a Dominant Share in Companion Animal Vaccine Market and is Anticipated to Grow Tremendously over the Forecast Period Also

The major factors that are driving United States Companion Animal Vaccines Market include increasing adoption of companion animals, increasing prevalence of diseases such as zoonosis, availability of advanced veterinary healthcare infrastructure, and the presence of key market players leading to the development of companion vaccines.

The growing pet population, along with an increase in spending on pet care, is fueling the market growth. For instance, according to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 85 million families or 67% percent of United States households owned a pet, up from 56% of the US households in 1988. Also, during the 2019-20 period, around 63.4 million United States households owned a dog.

Additionally, as per the American Pet Products Association Inc., in 2020, it was estimated that around USD 99.0 billion was spent on pets in the United States, up from USD 95.7 billion in 2019. Adding to that, the Centers for Disease Control and Prevention (CDC), the Department of the Interior (DOI), and the US Department of Agriculture (USDA) released a 2019 report listing the zoonotic diseases of most concern in the United States, which is expected to boost the market growth as this will increase demand for vaccines in the eradication of infectious diseases in companion animals.

The market players are adopting various strategies such as product launches, product developments, collaborations, mergers, acquisitions, and expansions to increase market share. For instance, in 2020 October, Elanco signed an agreement with Bayer’s Animal Health Business to acquire its Animal Health business in a transaction valued at USD 7.6 billion. Thus, the rising incidence of infectious diseases in companion animals along with increasing product launches is expected to show significant market growth over the forecast period

Competitive Landscape

The Companion Animal Vaccine market is moderately consolidated. In terms of market share, major players, such as Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Merck & Co. Inc., Zoetis Inc., and Bioveta AS among others, hold the largest market shares. The key players are evolving through various strategic alliances, such as acquisitions, collaborations, and new product launches, to expand the global product portfolio and secure their positions in the global market.

Reasons to Purchase this report:
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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Bioveta AS
  • Boehringer Ingelheim GmbH
  • Brilliant Bio Pharma
  • Indian Immunologicals Ltd
  • Merck & Co. Inc.
  • Merial (Sanofi)
  • MORE
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Adoption of Companion Animals, such as Dogs and Cats
4.2.2 Increasing Cases of Zoonotic Diseases
4.3 Market Restraints
4.3.1 High Cost of Vaccine Development and Regulatory Concern
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Live Attenuated Vaccines
5.1.2 Inactivated Vaccines
5.1.3 Toxoid Vaccines
5.1.4 Recombinant Vaccines
5.1.5 Other Technologies
5.2 By Animal Type
5.2.1 Dogs
5.2.2 Cats
5.2.3 Other Animal Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 COMPANY PROFILES
6.1.1 Elanco Animal Health Incorporated
6.1.2 Boehringer Ingelheim GmbH
6.1.3 Brilliant Bio Pharma
6.1.4 Merck & Co. Inc.
6.1.5 Virbac
6.1.6 Zoetis Inc.
6.1.7 Indian Immunologicals Ltd
6.1.8 Bioveta AS
6.1.9 Vetoquinol S.A.
6.1.10 Merial (Sanofi)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Elanco Animal Health Incorporated
  • Boehringer Ingelheim GmbH
  • Brilliant Bio Pharma
  • Merck & Co. Inc.
  • Virbac
  • Zoetis Inc.
  • Indian Immunologicals Ltd
  • Bioveta AS
  • Vetoquinol S.A.
  • Merial (Sanofi)
Note: Product cover images may vary from those shown
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